LAKE MERRITT ASIAN CULTURAL ARTS CENTER AFFORDABLE HOUSING CORP

EIN: 463434797 Public & Societal Benefit

Oakland, CA

Total Revenue
$66,640
Total Expenses
$55,631
Total Assets
$570,424
Net Assets
$284,777
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2013
Legal Domicile
CA
Principal Officer
Michael Esmailzadeh
Phone
5104523941
Tax Period
2024-01-01 to 2024-12-31

LAKE MERRITT ASIAN CULTURAL ARTS CENTER AFFORDABLE HOUSING CORP, founded in 2013, is a micro nonprofit in the Public & Societal Benefit sector that reported $67K in total revenue in fiscal year 2024. The organization ran a surplus of $11K, a strong 17% operating margin.

Mission

Lease affordable instructional space for the teaching of Asian Martial Arts. The space is leased to about 5 martial arts providers on an hourly basis. Most of the hours are rented by non-profit organizations providing low cost to free instruction to more than 200 residents of Oakland and surrounding cities Lease the residential portion of the property to 6 low income residents of Oakland CA at affordable rates. In 2024 there was 100% occupancy. Most of the residents are involved in providing low cost to free martial arts and self-defense training to Oakland youths and adults.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $66,640
Investment Income $0
Other Revenue $0
TOTAL REVENUE $66,640

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $55,631
Other Expenses $55,631
TOTAL EXPENSES $55,631

Year-over-Year Comparison

2024 2023 Change
Revenue $66,640 $69,341 0.0%
Expenses $55,631 $78,003 -0.3%
Net Income $11,009 $-8,662 -2.3%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

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Liquidity & Cash Position

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Governance

Voting Members
6
Independent Members
6
Employees
N/A
Volunteers
6

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
0
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Noya Kansky Resident Director 0.25
Director
$0 $0 $0
Rowan Powell Resident Director, President 0.25
Director
$0 $0 $0
Timothy Sheehan Artist Director 0.25
Director
$0 $0 $0
Amanda Marini General Director 0.25
Director
$0 $0 $0
Uchechukwu Mowete Artist Director 0.25
Director
$0 $0 $0
Michael Esmailzadeh CFO 2
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $66,640 $55,631 $570,424 $11,009
2023 $69,341 $78,003 $559,415 $-8,662
2022 $86,538 $49,418 $568,077 $37,120
2021 $64,088 $47,387 $530,958 $16,701
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